Rough diamond sales up for ninth cycle
Anglo American recorded an increase in its rough diamonds sold for De Beers during the ninth sales cycle of 2019.
The company announced yesterday through the Namibian Stock Exchange (NSX) that sales for De Beers for the ninth sales cycle amounted to US$390 million (around N$5.8 billion at the current exchange rate) as at 12 November 2019.
This represents an increase of US$93 million from US$297 million in cycle eight of 2019.
Last year, the company sold rough diamonds worth US$442 million during the same cycle in 2018.
De Beers' chief executive officer, Bruce Cleaver, said with signs of increasing polished price stability, cycle nine saw an improvement in sentiment from rough diamond buyers.
“Global consumer demand for diamond jewellery at the retail level continues to be broadly stable, but with midstream trading conditions still in the process of rebalancing, we offered siteholders further flexibility during the site to provide support,” he said.
Anglo American is a global diversified mining business and responsible for the mining of diamonds (through De Beers), copper, platinum and other precious metals.
The company is also listed on the NSX. - Nampa
The company announced yesterday through the Namibian Stock Exchange (NSX) that sales for De Beers for the ninth sales cycle amounted to US$390 million (around N$5.8 billion at the current exchange rate) as at 12 November 2019.
This represents an increase of US$93 million from US$297 million in cycle eight of 2019.
Last year, the company sold rough diamonds worth US$442 million during the same cycle in 2018.
De Beers' chief executive officer, Bruce Cleaver, said with signs of increasing polished price stability, cycle nine saw an improvement in sentiment from rough diamond buyers.
“Global consumer demand for diamond jewellery at the retail level continues to be broadly stable, but with midstream trading conditions still in the process of rebalancing, we offered siteholders further flexibility during the site to provide support,” he said.
Anglo American is a global diversified mining business and responsible for the mining of diamonds (through De Beers), copper, platinum and other precious metals.
The company is also listed on the NSX. - Nampa
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